Twitter In Negotiations To Bring Jack Dorsey Back As Chief Product Officer

Twitter's board is in negotiations to hire Twitter creator Jack Dorsey back into the company full time, according to a source familiar with the situation.

The CEO title has been discussed, but it's much more likely Dorsey would become something like a chief product officer.

Current Twitter CEO Dick Costolo will stay with the company, as he is valued for his monetization expertise.

In November, we reported that Jack Dorsey was, one day a week, working at Twitter again.

This new position is said to be closer to a day-to-day job supervising product development at Twitter.

It's possible, however, that Dorsey will end up merely expanding his current consulting role.

As an Odeo employee back in 2006, Jack Dorsey invented Twitter with some help from another employee named Florian Webber.

After Twitter split out from Odeo, Dorsey was the company's first CEO in 2007. Then chairman Ev Williams pushed Dorsey out in 2008, taking the CEO job for himself.

Ev Williams stepped down as Twitter CEO last fall, handing over the job to then COO Dick Costolo. At the time, it was reported that Williams would lead product development at Twitter. This turned out not to be true. These days, Williams is hardly ever at the office. Neither is another more visible cofounder, Biz Stone, who nevertheless still makes plenty of appearances in the media representing Twitter.

After he left Twitter, Dorsey founded mobile payments company Square, where he is now CEO.

If Jack were to take a full-time role at Twitter, someone else would probably have to takeover Square. The bet here is that person would be COO Keith Rabois, the PayPal veteran and former Slide corporate development boss.

We reached Twitter and Square and told them about this story. Since then, we haven't heard back.